Finance
In Tennessee, a 'home equity line of credit' (HELOC) is secured by:
AThe borrower's personal property only
BA lien on the borrower's home equity✓ Correct
CAn unsecured promise to repay
DA government guarantee
Explanation
A HELOC is a revolving line of credit secured by a lien on the borrower's home equity. The borrower can draw funds up to the credit limit and the home serves as collateral.
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